Stock Groups

Cramer says anyone selling big tech stocks in premarket is ‘either a machine or an idiot’

Jim Cramer appears on CNBC’s Halftime Report.

Scott Mlyn | CNBC

CNBC’s Jim CramerInvestors were warned Monday that it is not wise to sell stocks during thin trading in the morning hours before market opens.

The selling of these Nasdaq names takes place between 4 a.m. to 4:30 a.m. It’s frightening. Cramer stated on “Squawk on the Street.”It’s either a machine, or an idiot. Because who would want to sell without real buyers?

Futures linked to the Nasdaq fell 2.6% last Monday. But they didn’t participate in Monday’s rebound which drove many stocks other than tech higher before regular trading hours started on Wall Street at 9:59 a.m. ET. ET. NasdaqThe strong recovery in 2008 was a slowing down, although the rose did not materialize. Dow Jones Industrial Average S&P 500.

On Friday, the Nasdaq had been about 6% off its Nov. 18 record close. About 5% was left between the Nov. 8 record close and Dow. The S&P 500 was nearly 3.7% away from its Nov. 18 record close.

Cramer indicated that large tech stocks such as those in the Nasdaq have been in a bearish market. That is when they are down 20% from their recent highs.

This is where it’s a big mistake: “To trade off the tape” Cramer stated earlier in CNBC’s that it could reverse within a nanosecond. “Squawk Box,”You should also note that Nasdaq sales could become buying in this volatile market.

Cramer is not averse to “pajama trader” as he refers them. The following are just a few of the examples. “Mad Money”Host blasted them in 2017 in 2019.

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.